'Electronic trading improves productivity, offers more transparency and cuts costs', said Ben Sy, the head of fixed income, currencies and commodities at the private banking arm of JPMorgan in Hong Kong. 'So there are a lot of economic incentives for both the sell-side and the buy-side'.

Electronic platforms allow dealers to put in bid and offer prices for bonds. Buyers can then confirm an order online and the system will automatically process the documentation. This saves time spent on the phone and the cost of manual settlement.